Trade Balance in Nigeria
Nigeria - Trade BalanceEconomic growth cooled in the first quarter of the year due to a further deterioration in the key oil sector. This more than offset a strong performance in the services sector leading non-oil sector activity to firm. Second-quarter data paints a mixed picture. Private-sector operating conditions improved at a fractionally slower pace in April–May, while credit growth was also broadly stable in April. That said, inflation rose markedly in the same month. A pickup in core inflation highlights that price pressures are farther-reaching than energy and food price increases. Meanwhile, sectarian violence spread to the country’s relatively safe south-western region. Social tensions and violence could increase going forward, as religious and regional divides are heightening the stakes of the February 2023 presidential elections.
Nigeria - Trade Balance Data
|Trade Balance (USD billion)||-6.4||-0.5||13.1||20.5||2.9|
5 years of economic forecasts for more than 30 economic indicators.
Source: Central Bank of Nigeria
|Bond Yield||11.10||0.0 %||Dec 31|
|Exchange Rate||306.5||3.08 %||Jan 01|
|Stock Market||0.1||0.0 %||Jan 07|
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November 18, 2022
Inflation accelerated to 21.1% in October from 20.8% in September.
October 20, 2022
Inflation rose to 20.8% in September from 20.5% in August.
October 4, 2022
Private-sector operating conditions in Sub-Saharan Africa’s largest economy improved at a stronger clip at the close of the third quarter.
September 27, 2022
The Central Bank of Nigeria continued to tighten financial conditions at its 26–27 September meeting, delivering a 150 basis points hike that brought the monetary policy rate up to a record-high 15.50%.
September 16, 2022
Inflation rose to 20.5% in August from July’s 19.6%, marking the highest print since September 2005.